24/03/2025

BIZ & FINANCE MONDAY | MAR 24, 2025

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Malaysian Paper

/thesundaily /

SSF records strong revenue growth

On Thursday evening, IJM lodged a formal report with the Malaysian Communications and Multimedia Commission (MCMC) on online allegations regarding the company and its leadership on the MRT3 project ( Malay Mail , March 21). The bid price of IJM-C1C rose 40% over last Thursday and Friday, seven times the 5.7% rise in IJM shares. To view the full list of structured warrants available on Bursa Malaysia, kindly visit malaysiawarrants.com.my. Provided for Malaysian residents information only. This commentary has not been reviewed by the Securities Commission Malaysia. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice. The Warrants will not be offered to any US persons. Affin strengthens gold-based financial offerings through partnership with TTT Bullion KUALA LUMPUR: Affin Group has signed a memorandum of understanding with TTT Bullion (M) Sdn Bhd, reinforcing its position as a provider of gold based financial solutions. TTT is a gold bullion trader in Malaysia, specialises in trading with jewellers, bullion traders, and refineries in both local and international markets. Through this partnership, TTT will supply gold to Affin, ensuring a reliable and sustainable gold inventory to meet the growing demand for gold investment products. This collaboration strengthens Affin’s gold-based financial offerings, including Affin Emas-i and Affin Emas Account-i, which have been available since 2018. These products empower customers with flexible and secure gold investment options, catering to diverse investment preferences. Affin Islamic Bank Berhad CEO Datuk Paduka Syed Mashafuddin Syed Badarudin said: “At Affin, we are committed to providing innovative and reliable financial solutions that grow with our customers’ needs. “This partnership with TTT strengthens our position as a trusted leader in gold-based investments, ensuring secure and sustainable opportunities. “As gold remains a key asset for wealth preservation, we are confident this collaboration will enhance accessibility and convenience, empowering customers to invest with confidence – backed by our commitment to Unrivalled Customer Service.”

WARRANTS turnover last week came in 35% lower week-on-week (w-o-w), at RM403.1 million as compared to RM622.4 million the week before, partly due to the shortened trading week in conjunction with Nuzul Al-Quran on Tuesday. The bulk of turnover came from trading in the Hang Seng Index (HSI) warrants, which came in at 85% of the total turnover. On a weekly basis, turnover from HSI warrants came in 37.9% lower than the previous week. Turnover for warrants over the Hang Seng TECH Index (HSTECH) however, recorded 37.7% higher turnover from the previous week. Further, Malaysia stocks also garnered decent warrant trading activity, with interest in names such as MY E.G. Services (MYEG) and Gamuda Berhad (GAMUDA), among others. The launch builds upon the model’s strong performance in Malaysia since its debut on December 16, and helps to pave the way of a broader international strategy. Proton’s authorised distributor in Nepal, Jagdamba Motors Pvt Ltd, is actively expanding its dealer network. Currently, three dealers are operational, with plans to finalise agreements with 12 nationwide by the end of 2025. It also has plans to establish charging infrastructures and build a robust service center network nationwide to easing any customer anxiety towards EVs. Proton’s entry to the market is timely and aligns well with Nepal’s Green WARRANTS WATCH KUALA LUMPUR: SSF Home Group Bhd, a well-known retailer in furniture, home décor, and home living products, recorded a 31.1% quarter-on-quarter (QoQ) revenue growth for the third quarter of the financial year ending April 30, 2025 (Q3 FY2025), increasing from RM30.09 million in Q2 FY2025 to RM39.45 million, driven by strong festive season sales and contributions from new store openings. On a year-on-year basis, revenue grew by 4.6%, compared to RM37.71 million in the corresponding quarter of the previous year (Q3 FY2024). The sustained growth reflects the group’s expanding retail footprint, with 47 stores nationwide from 41 stores as at the end of Q3 FY2025. Despite higher revenue, the group’s Profit Before Tax (PBT) for Q3 FY2025 stood at RM1.06 million, marking a decline from RM3.10 million in the same quarter last year. The decrease was primarily due to lower gross profit margin, coupled with higher depreciation charge of Right-of-Use assets derived from new retail outlets during the quarter. However, on a QoQ basis, PBT rebounded 142.9%, rising from a Loss Before Tax (LBT) of RM2.47 million in Q2 FY2025, reflecting

Executive director Lok Kok Khong said: “Our continued expansion and strategic partnerships reinforce our position as a key player in the home and living retail segment. “The revenue growth and quarter-on-quarter profit recovery further demonstrate our resilience. “We are confident that our strong market presence, new store openings, and digital initiatives will position us well for long-term success. “Moving forward, we will remain focused on enhancing our retail network, strengthening our digital capabilities, and capitalising on positive consumer spending trends. “With an optimistic economic outlook and continued demand for home and living products, we believe SSF is well-positioned to achieve sustainable growth.”

o New stores and strategic collaborations strengthen group’s market presence

improved sales momentum and operating efficiencies. In line with its strategic expansion roadmap, SSF Home Group has continued strengthening its retail footprint and digital presence. The launch of its flagship SSFHOME Garden outlet in Glenmarie, Shah Alam in December 2024 marked a milestone in enhancing the group’s customer experience with a more immersive retail concept. Additionally, SSF entered into a memorandum of understanding with Rumah Ibu Sdn Bhd on Feb 7 to collaborate on the Rumah Ibu

Scheme, an affordable housing initiative for at least 35,000 landowners under Rancangan Perkampungan Tersusun (RPT) in Perak. Furthermore on Feb 27, SSF signed an MoU with Haqqi Mall to become the anchor tenant merchant on the e-commerce portal owned by Koperasi Tabung Haji Bhd. This partnership strengthens SSF’s presence in the digital retail space and allows the company to tap into the Muslim consumer market by offering a wide range of home furnishing solutions through Haqqi Mall’s ecosystem.

Proton e.MAS makes its international debut in Nepal PETALING JAYA: Proton’s international sales division (ISD) marked its foray in Nepal’s electric vehicle (EV) market with the launch of the Proton e.MAS 7, capitalising on the nation’s rapidly expanding EV sector that has grown nine-fold over the past few years. Mobility Vision and its shift toward sustainable transportation. Notably, Nepal Electricity Authority (NEA) has pledged to establish over 300 charging stations across the country within the next three years, a move designed to boost electric vehicle adoption and reduce reliance on fossil fuels.

The Hong Kong market kicked off the week higher with the HSI futures gaining 0.5% on Monday to close at 24,186, following the US stock market rebound on Friday. Market continued to rally on Tuesday following positive cues from Wall Street overnight, though it then ended fractionally lower on Wednesday as investors became cautious ahead of the US Federal Reserve meeting (S outh China Morning Post, March 19). The market then fell on Thursday after the US kept its interest rates unchanged at 4.25% to 4.5% as central bank officials weigh the impact of President Donald Trump’s aggressive economic agenda (CNN, March 20). The HSI futures ultimately ended the week lower at 23,602, down 1.9% w-o-w. With the moves, investors were seen actively trading both the HSI calls and puts, namely HSI-CWCF and HSI-PWD1 as they took centre stage, notching in the greatest volume Back in Malaysia, the total number of Proton e.MAS 7 deliveries since January has surpassed the 1,000 units- mark, two months after its launch. More than 4,500 bookings have been received, demonstrating an increasing number of Malaysians who are willing to make the switch to EVs with Proton, provided the overall package meets their expectations. “Nepal is just the beginning. Plans Already, 50 e.MAS 7 units were shipped to Nepal in February ahead of the launch, while a small number of units have also been sent to Singapore and Trinidad & Tobago for evaluation purposes.

(From left) Jagdamba Motors executive director Akhil Gupta; International sales division director Edmund Lim; Pro-Net CEO Zhang Qiang; Shankar Group chairman Shanker Lal Agrawal; Embassy of Malaysia, Kathmandu chargé d’affaires Mohd Firdaus Azman; Li; and Jagdamba Motors managing director Sahil Agrawal.

are already in motion to introduce the Proton e.MAS 7 to other international markets to support the brand’s global growth ambitions. This expansion strengthens Proton’s position as a forward-looking automotive leader

while building new customer relationships worldwide. “We will be bringing our EV model to Trinidad & Tobago, Mauritius as well as Singapore,” said Proton CEO Dr Li Chunrong.

Hong Kong market ended the week in the red on tech selloff

Top IJM warrants by volume traded Warrant Volume Issuer Exercise

Expiry date

name

traded 12.1mil 9.8mil 5.4mil 4.0mil 1.0mil

price

IJM-C1C IJM-C1B IJM-C97 IJM-C1A IJM-C99

Macquarie

RM2.58 RM2.00 RM2.88 RM2.50 RM2.50

30 Sep 25 30 Sep 25 29 Aug 25 24 Sep 25 30 Sep 25

CIMB

Maybank

RHB

Maybank

traded amongst HSI warrants for the week. Meanwhile, warrants over the HSTECH also saw increased trading activity, with put warrant HSTECH H17 notching in a traded volume of 15.1 million units. HSTECH-H17 saw a 15.4% w-o-w increase in its bid price as of Friday’s close, as it moves inversely to the underlying HSTECH futures which declined 5.4% w-o-w to close at 5,602 on Friday. In the local scene, turnover from warrants recorded an 8.9% w-o-w

decrease. Warrants over MYEG were in the limelight as investors were trading MYEG-C7O, MYEG-C7Q and MYEG C8C, among others. Meanwhile, warrants GAMUDA-C2R and GAMUDA-C2Y recorded a combined total of nearly 80 million units traded. Further, warrants over IJM Corporation (IJM) were also in demand, with call warrant IJM-C1C notching in the highest volume traded among its peers at 12.1 million units traded.